In last year's Liberal election platform, Prime Minister Justin Trudeau promised to legalize marijuana, touting a "new system of strict marijuana sales and distribution, with appropriate federal and provincial excise taxes applied." By leaving out the possibility of city taxes, Trudeau raised the hackles of spend-crazy mayors across the nation. Now the mayors are pushing back -- they want a piece of the green.
B.C. has become the first foreign government to issue a Masala bond in India. Essentially, B.C. took on $97.5 million in debt and immediately reinvested that money not in B.C. infrastructure or something that would help B.C. taxpayers, but in the Housing Development Finance Corporation (HDFC) Limited of India.
There's no tax quite as popular as a tax on someone else. But will the people still be on board once the bills come in for collecting the Vancouver vacancy tax, or when the foreign investment tax has to morph to catch the money coming into the country? Or if housing prices are unaffected? Or if housing prices plunge and Canadian homeowners owe more than their home is worth?
Todd Stone, B.C.'s minister of transportation, has apparently told the Victoria Regional Transit Commission (VRTC) that he will approve their long-standing request for a two cents per litre gas tax hike in the Victoria region. The VRTC wants the tax, which would generate $6.6 million, for bus improvements.
Progressive economist Jim Stanford invites us to reimagine Bombardier's demand for another taxpayer handout as an exciting opportunity for an "equity investment." In his view, focusing on the usual metrics for businesses -- such as "does the company make money?" or "can it actually sell the products it makes?" -- is evidence of a dangerous affliction he refers to as "market fundamentalism."
Road levy. Recreation and culture levy. Transportation for tomorrow tax. Dedicated road tax. Asset levy. Make no mistake: we want our cities to invest in infrastructure. Sewer, water, roads; these are core responsibilities of local government. But repackaging this spending with a new tax is a slap in the face.
All told, the B.C. government cut cheques for $1.5 billion in film subsidies over the past five years. That's more than taxpayers spent on the ministries of aboriginal relations, agriculture and environment -- combined. As if that wasn't enough, the federal government jumped in with $1.73 billion more nation-wide. With the low Canadian dollar attracting more filming here, these subsidies are going to soar even higher in 2016-17, as there are no caps on these payouts.
The bipartisan legislative committee was asked by Finance Minister Michael de Jong to travel the province and make recommendations for the 2016-17 B.C. budget. Unfortunately, the committee fell into the usual trap of recommending billions in new spending requests put in by dozens of special interest groups.
Oliver, a British national, took to the CBC radio program The Q to say that both the UK and Canada need a national tax on sugary beverages. He says kids, particularly those who come from underprivileged backgrounds, are growing up living a far too unhealthy lifestyle. Would a tax change that behaviour?
There are tax credits for putting your kids in sports or music lessons, for volunteer firefighting, for taking a bus, for fixing up your kitchen, and for joining a search and rescue team. All worthy things, sure, but expensive for taxpayers. Now we're talking about a leftovers tax credit. Where will this trend end?
They're coming first for your devilish Coca-Cola and Pepsi. But they aren't stopping there. They also want taxes on sugary fruit juice (you sinister Sun-Rype suckers!), and anything else that tastes slightly better than water. It won't end -- because big government types truly believe higher taxes can solve every problem -- there's no evidence it will work.